Boyd Hard Money Loans

About Boyd Hard Money Loans

Headquartered in Winter Park, FL, Boyd Hard Money Loans is a private lender offering loans throughout Florida and Georgia. They offer fix and flip hard money loans, commercial loans, and short term bridge loans. They issue loan amounts up to $1,000,000 with a maximum LTV of 75%, rates starting at 12%, and terms between 1 year and 2 years. They primarily offer funding for single family and multi-family units.

Loan Types Offered: Fix and Flip Loans, Commercial Hard Money Loans, Bridge Loans

Property Types Covered: Single Family, Multi Family

Areas Served: FL, GA

Lending Guidelines for Boyd Hard Money Loans

Below are the general loan guidelines published on the Boyd Hard Money Loans website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by Boyd Hard Money Loans.

Loan Example 1

Lawrence finds a property in Miami, FL to flip and sell. Since he does not have enough cash on-hand to buy the $280,000 property outright, he decides to take out a private money loan from Boyd Hard Money Loans. The loan to value (LTV) on the note is 60%. This means that Lawrence will have to bring 40% of the sales price to closing and the principle will be $168,000 on the loan. The note is interest-only, paid monthly, and is for 6 months at 10% interest with 5 points paid when the deal closes.

Lawrence will have to contribute $112,000 to the closing (40% on the 60% loan-to-value), plus he will need to pay the $8,400 origination fee. Boyd Hard Money Loans will collect $1,400 in monthly interest payments from the Lawrence. This is computed by taking the total note amount of $168,000, multiplying that by the 10% interest rate, and then dividing that amount by 12. At the end of the note, he sells the rehabed house for $364,000. After deducting the $8,400 in interest expenses ($1,400 multiplied by 6 months), the $8,400 origination fee, the $168,000 principle on the note, and the $112,000 he brought to closing, he will make a total profit of $67,200 ($364,000 sales price minus $296,800 in costs). This amount would be reduced by any renovation costs paid out of pocket.

Loan Example 2

Dustin is a an investor in Miami, FL. He purchases a run-down house for a remodeling project and obtains a private money loan from Boyd Hard Money Loans with the following features:

a) A $290,000 purchase price, b) a 50% loan to value (LTV), c) a 12 month term, d) a 13% interest rate, and e) a 1% origination fee.

Dustin plans to list the project at the end of the term for $406,000. If he achieves this goal, the deal numbers would be as follows:

$406,000 sales price
- $145,000 principle (50% LTV)
- $145,000 down payment (50% on 50% LTV)
- $1,450 origination fee (1% of the $145,000 principle)
- $18,850 interest payments (12 months x 13% interest)
-----------------------
= $95,700 total profit (does not include taxes or rehab costs)

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